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Demographics and the decline in firm entry : lessons from a life-cycle model

Röhe, Oke; Stähler, Nikolai - 2020

Since the mid-1970s, firm entry rates in the United States have declined significantly. This also holds for other OECD countries over the past years. At the same time, these economies experienced a gradual process of population aging. Applying a tractable life-cycle model with endogenous firm...

Persistent link: https://www.econbiz.de/10012180750

Re-allocating taxing rights and minimum tax rates in international profit taxation

Kempkes, Gerhard; Stähler, Nikolai - 2021

What are the macroeconomic implications of re-allocating taxing rights away from source countries (where goods are produced) to market countries (where goods are consumed) and introducing minimum rates in international profit taxation? We assess this question in a dynamic macroeconomic model...

Persistent link: https://www.econbiz.de/10012433663

German and the rest of euro area fiscal policy during the crisis

Gadatsch, Niklas; Hauzenberger, Klemens; Stähler, Nikolai - 2015

-on-quarter GDP growth substantially, both in Germany and in the rest of the Euro Area. The main drivers of GDP growth in Europe …

Persistent link: https://www.econbiz.de/10010516561

Why the European Securities Market is Not Fully Integrated

Giovannini, Alberto - 2008

I describe the challenge of fully integrating securities markets in Europe by integrating the clearing and settlement …

Persistent link: https://www.econbiz.de/10012464171

The Determinants of Realignment Expectations Under the EMS : Some Empirical Regularities

Chen, Zhaohui - 1993

The stability of the EMS depends crucially on realignment expectations of the market participants. In this paper we discuss how to measure such expectations and how to relate them to economic fundamentals, central bank reputation, and institutional arrangements of the EMS. We find the following...

Persistent link: https://www.econbiz.de/10012474669

The Currency Reform as the Last Stage of Economic and Monetary Union : Some Policy Questions

Giovannini, Alberto - 1991

The paper discusses the policy problems of a project aimed at substituting several national currencies with one single currency. While these problems are of general interest, the analysis is motivated by the plan for Economic and Monetary Union among the members of the European Community. The...

Persistent link: https://www.econbiz.de/10012475071

Capital Flight and Tax Competition : Are There Viable Solutions to Both Problems?

Giovannini, Alberto - 1990

This paper discusses a model corporate tax system based on the application of the residence principle. This tax system, while preserving national sovereignties, minimizes the distortions from international capital mobility. The paper is motivated by an analysis of European capital income tax...

Persistent link: https://www.econbiz.de/10012475702

Can The European Monetary System Be Copied Outside Europe? Lessons From Ten Years of Monetary Policy Coordination In Europe

Giavazzi, Francesco - 1988

This paper addresses the question of whether the European Monetary System can be copied outside Europe. Our answer is … negative. The EMS is just one element of a more comprehensive design of institutional integration within Europe: the presence … to EMS exchange rate targets in a way that would not be present. say, among the United States, Europe and Japan. The EMS …

Persistent link: https://www.econbiz.de/10012476271

How Do Fixed-Exchange-Rates Regimes Work : The Evidence From The Gold Standard, Bretton Woods and The EMS

Giovannini, Alberto - 1988

This paper defines two competing hypotheses on the working of fixed exchange rates. The "symmetry" hypothesis states that every country is concerned with the good functioning of the system, and cannot afford to deviate from world averages. Every country is just left to follow the rules of the...

Persistent link: https://www.econbiz.de/10012476294

Budget-neutral labour tax wedge reductions : a simulation-based analysis for selected euro area countries

Attinasi, Maria-Grazia; Prammer, Doris; Stähler, Nikolai; … - 2016

Budget-neutral tax wedge reductions rank high in the policy agenda of several EMU member states. Using a New Keynesian DSGE model of a monetary union with a complex labour market structure and a comprehensive public sector, we evaluate the macroeconomic and welfare effects of reducing the firms'...

Persistent link: https://www.econbiz.de/10011518187